CryptoQuant’s latest report shows that Ethereum network activity has reached record highs across multiple metrics, yet ETH’s price has declined by approximately 30% over the past six months. Data indicates that Ethereum’s daily active addresses neared 2 million in February 2026, surpassing the peak of the 2021 bull market, with smart contract invocations exceeding 40 million per day. However, Ethereum’s realized market cap has turned negative year-over-year, signaling net capital outflows. According to DefiLlama, Ethereum’s transaction fees over the past 30 days totaled approximately $10.3 million, ranking third behind Tron and Solana; protocol revenue reached about $1.22 million, ranking fifth. Despite supporting around $162 billion in stablecoin supply—roughly 52% of the global total—Ethereum’s ability to capture value has not kept pace with its growing network usage. (CoinDesk) https://t.co/yee4g4K4Kz
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